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2.7¢ new energy minerals ltd

Ann: Notice to set Arena Investors statutory demand aside, page-4

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stradzz

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21/11/18

10:23

Post #: 36583309
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Originally posted by Queenslander13 ↑

lodged on 19th in WA

The Company has applied to set aside the statutory demand on the basis that:
1. It is defective by reason of its failure to separately particularise the interest,
principal and other components comprising the total of Arena’s claimed debt;

2. There is a genuine dispute about whether the amounts claimed by Arena
are due and payable. In particular , the Company contends that it is not liable
to repay principal nor any termination payment claimed by Arena, due to the
fact that Arena breached an essential condition of the Unsecured
Convertible Note Deed by failing to pay Tranche 2B to the Company, in the
amount of $1.805m cash;

3. The Company has an offsetting claim, being damages for Arena’s breach and
unconscionable conduct. The Company’s preliminary estimate of its damages is
approximately $17.03m.

Im guessing Mr Ching is no ding a ling. IMHO

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So can all us MUS holders that got screwed by this companies poor management (unconscionable conduct) now counter sue MUS for our losses. NXE seems to be on the same death march as MUS.

NXE Price at posting: 4.6¢ Sentiment: None Disclosure: Not Held
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